Tag Archive: HKMA

Is a 0.3% Miss on Headline CPI Really Worth a 77 bp Rise in the December Fed Funds Yield?

2022-06-15

Overview: Better than expected Chinese data and an unscheduled ECB meeting are the highlights ahead of the North American session that features the May US retail sales report and other high frequency data before the outcome of the FOMC meeting.

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Sentiment Remains Fragile, and the Euro and Sterling can barely Sustain even Modest Upticks

2022-05-13

by Marc Chandler

2022-05-13

Equities are recovering from dramatic losses. Today, the Nikkei, Hang Seng, and Kospi surged by more than 2%.

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FX Daily, July 8: Consolidation is the Flavor of the Day

2020-07-08

by Marc Chandler

2020-07-08

The S&P 500's longest advance this year was stopped seemingly as concern that the flare-up in the virus will slow the recovery. The sell-off in airlines and hotels helped spur a broader bout of profit-taking. Most Asia Pacific bourses advanced, led by the continued rally in Hong Kong and China. Europe's Dow Jones Stoxx 600 is posting its first back-to-back decline in nearly a month.

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FX Daily, June 9: Profit-Taking Gives Turn Around Tuesday Its Name

2020-06-09

by Marc Chandler

2020-06-09

Overview: The S&P 500 turning higher on the year was the last straw before an arguably overdue bout of profit-taking kicked-in and is the dominant feature today in the capital markets. It began slowly in the Asia Pacific region. Equities were mixed, and Australia's 2.4% rally and the 1.6% gain in Hong Kong stood out. Europe's Dow Jones Stoxx 600 was off for a second day (~1.3%), and US stocks are trading heavily, warning that the S&P 500 may give...

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FX Daily, September 17: Markets Calm(er)

2019-09-17

by Marc Chandler

2019-09-17

Overview: Oil prices have stabilized after yesterday's surge. Both Brent and WTI are holding on to around $7-$8 a barrel gain. Equity markets are mixed. Some are attributing the losses in Asia Pacific outside of Japan (Nikkei rose its highest level since late April), Korea and Australia to the rise in oil prices. European shares opened lower are straddling unchanged levels.

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FX Daily, June 13: Financial Statecraft or Whack-a-Mole

2019-06-13

by Marc Chandler

2019-06-13

Overview: After roiling the markets by threatening escalating tariffs on Mexico, US President Trump has threatened China that if Xi does not meet him and return to the positions that the US claims it had previously, he will through on imposing tariffs to the remaining goods the US buys from China that have not already been penalized.

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Just A Few More Pips

2018-03-25

by Jeffrey P. Snider

2018-03-25

On Page 1, Chapter 1 of the Central Banker Crisis Handbook it states very clearly, “do not make it worse.” It’s something like the Hippocratic oath where monetary authorities must first assess what their actions might do to an already fragile system. It’s why they take great pains to try and maintain composure, appearing calm and orderly while conflagration rages all around. The last thing you want to do is confirm the run.

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FX Daily, March 22: Dollar Trades Off

2018-03-22

by Marc Chandler

2018-03-22

The US dollar has not recovered from the judgment that yesterday's that Fed was not as hawkish as many had anticipated. There was no indication that officials thought they were behind the curve or prepared to accelerate the pace of hikes. Powell is comfortable with the broad policy framework that has been established but seemed to have little time for the summing up of the individual forecasts (dot plot).

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